It is often desirable to maintain records in a file folder system for only a brief amount of time. Once the need to maintain the records has passed, the folder containing the records is either disposed of or reconfigured for holding new records by placing a new label over the previous lable or, in some folder systems, removing the old label from a transparent pocket and inserting a new label. Disposing of the used folder can be expensive and is wasteful in that the folder s generally still serviceable. Reconfiguring the used folder can be time consuming and with the high cost of labor and labels can sometimes be more expensive than simply disposing of the used folder. It would be desirable, therefore, to have a folder that had a labeling tab that could quickly and easily be marked to indicate the records contained within the folder. It would further be desirable if the labeling tab could be erased and relabeled numerous times without the annoying buildup of labels placed on top one another. It would also be desirable if the folder had an erasable notepad feature that allowed brief notes pertaining to the information or records contained within the folder to be left on a semi-permanent basis. The term "semi-permanent" is used herein to mean markings placed on a surface that can be entirely eliminated from the surface by erasing the surface but which will remain on the surface in the absence of an erasing act.